Banking giant Lloyds has revealed it will give a £1k bonus to thousands of its staff. Lloyds has said that 64,182 of its employees are eligible for the boost.
The bonus is being given as the rising cost of living continues to impact people across the UK, BirminghamLive reports. A spokesperson for Lloyds said: "As the rising cost of living continues to impact our people and our customers, we’ve been assessing the evolving outlook for inflation and considering how we can support you even further.
"This support is designed to help you during these uncertain economic times and is in addition to the steps we’ve already taken to increase the support available both to you and our customers."
Rising fuel costs are also causing concern for Brits as they are hitting record highs and are only predicted to increase. Trade union Unite welcomed the move and said it is a "victory".
Sharon Graham, Unite's general secretary, said: "Unite members' collective action has put desperately needed money into the pockets of staff on the front line. This victory for Unite's LBG pay campaign is an important step in changing the bank's pay structures.
"Staff will welcome the £1,000 bonus but there is still a long way to go to eradicate low pay in that is one of the economy's most profitable sectors."
